This paper studies the long-term consequences of actions induced by vesting equity, a measure of short-term incentives. Vesting equity is positively...
We find a large body of evidence that independent director reputation incentives can vary across directors and can significantly influence important...
Relative performance evaluation (RPE) in CEO compensation can be used as a commitment device to pay CEOs for their revealed relative talent. We find...
A 1970 New York Times essay on corporate social responsibility by Milton Friedman is often said to have launched a shareholder-focused reorientation of...